Rambus (NASDAQ:RMBS) Now Covered by Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Rambus (NASDAQ:RMBS) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $71.00 price target on the semiconductor company’s stock. Evercore ISI’s price objective suggests a potential upside of 17.65% from the stock’s current price.

Several other equities research analysts also recently commented on RMBS. Wells Fargo & Company assumed coverage on shares of Rambus in a research note on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price objective for the company. Loop Capital started coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 price target on the stock. Robert W. Baird began coverage on Rambus in a report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective on the stock. Rosenblatt Securities upped their target price on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Baird R W raised shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $75.14.

Rambus Stock Down 2.1 %

Shares of Rambus stock opened at $60.35 on Tuesday. The firm has a market capitalization of $6.43 billion, a P/E ratio of 37.48 and a beta of 1.26. Rambus has a 52 week low of $37.42 and a 52 week high of $69.89. The company has a 50 day moving average price of $57.64 and a 200 day moving average price of $50.14.

Insider Transactions at Rambus

In related news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the sale, the director now directly owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. UMB Bank n.a. raised its stake in shares of Rambus by 554.9% in the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 455 shares during the period. Quarry LP increased its holdings in Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 264 shares during the last quarter. GAMMA Investing LLC increased its holdings in Rambus by 207.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 1,769 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in Rambus in the fourth quarter valued at approximately $203,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Rambus by 448.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 3,245 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.